Royal Gold (NASDAQ:RGLD) Trading 5.5% Higher

Royal Gold, Inc. (NASDAQ:RGLD) (TSE:RGL)’s stock price shot up 5.5% during mid-day trading on Wednesday . The company traded as high as $116.63 and last traded at $116.07. 114,722 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 388,409 shares. The stock had previously closed at $110.06.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RGLD shares. National Bank Financial upgraded Royal Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, February 15th. Jefferies Financial Group began coverage on shares of Royal Gold in a report on Thursday, February 29th. They issued a “hold” rating and a $117.00 target price on the stock. Cantor Fitzgerald cut shares of Royal Gold from an “overweight” rating to a “neutral” rating in a report on Thursday, February 15th. Finally, BMO Capital Markets raised shares of Royal Gold from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $148.00 to $158.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Royal Gold presently has an average rating of “Hold” and a consensus target price of $145.67.

Royal Gold Price Performance

The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 2.42 and a beta of 0.86. The company has a current ratio of 2.31, a quick ratio of 2.18 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $111.25 and its 200 day moving average is $112.90.

Royal Gold (NASDAQ:RGLD) (TSE:RGL) last posted its earnings results on Wednesday, February 14th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.20. The business had revenue of $152.70 million for the quarter, compared to analysts’ expectations of $140.32 million. Royal Gold had a return on equity of 8.18% and a net margin of 39.53%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Research analysts anticipate that Royal Gold, Inc. will post 4.17 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, April 4th. Royal Gold’s dividend payout ratio is currently 43.96%.

Insider Transactions at Royal Gold

In related news, VP Randy Shefman sold 500 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $104.18, for a total value of $52,090.00. Following the completion of the sale, the vice president now owns 9,473 shares in the company, valued at approximately $986,897.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Royal Gold

Several institutional investors have recently added to or reduced their stakes in RGLD. Rakuten Securities Inc. acquired a new position in shares of Royal Gold in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC increased its stake in Royal Gold by 526.3% in the 4th quarter. Larson Financial Group LLC now owns 238 shares of the basic materials company’s stock valued at $29,000 after buying an additional 200 shares during the period. Quarry LP purchased a new position in Royal Gold during the 2nd quarter worth $31,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Royal Gold in the 4th quarter worth $31,000. Finally, Artemis Wealth Advisors LLC purchased a new stake in shares of Royal Gold in the third quarter valued at about $36,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

About Royal Gold

Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests. The company engages in acquiring stream and royalty interests or to finance projects that are in production, development, or in the exploration stage in exchange for stream or royalty interests, which primarily consists of gold, silver, copper, nickel, zinc, lead, and other metals.